Tag Archives: Oil

Oil prices continued to plummet, amid uncertainty about the outlook for the OPEC+ agreement and output policies. Major producers are in disagreement about extending the current output cuts, which are gradually being eased, with recent talks about quotas and production levels not leading to a consensus. Brent crude futures for …

Oil, Crude, trading

Oil prices continued to plummet on Wednesday, amid uncertainty about the outlook for the OPEC+ agreement and output policies. Major producers are in disagreement about extending the current output cuts, which are gradually being eased, with recent talks about quotas and production levels not leading to a consensus. Brent crude …

According to Russian news agency TASS, OPEC+ producers will not be holding a meeting this week to break the impasse in the output strategy. “This week will be difficult. Negotiations are in progress, and there are no signs yet that the meeting will take place this week. The problem remains …

Oil prices dropped on Tuesday, finishing with huge losses, amid uncertainty about the outlook for production policies by major crude producers. Yesterday, the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies could not reach an agreement on the output policy starting August. Brent crude futures for September …

Saudi Arabia decided to raise the official selling prices for the month of August for all oil crudes designated to be sold to Asia. Saudi Arabia, the world’s largest oil exporter, set the August official selling price for its Arab Light crude at $2.70 a barrel, above the Oman/Dubai average …

After talks that lasted for two days, the OPEC+ meetings ended without an agreement, as the group’s ministers canceled talks related to production after a dispute that erupted last week when the UAE objected to a proposed extension of production restrictions for an additional eight months, but in return it …

Oil prices jumped to their highest levels in several years, and saw US crude reach its highest level since 2014, after OPEC + producers disagreed about plans to increase supplies in the face of rising global demand. Brent crude jumped 62 cents, or 0.8 percent, to $77.78 a barrel after …

Oil, Crude, trading

Oil prices surged on Monday, for the fifth consecutive session, with markets anticipating the outcomes of the ongoing OPEC+ negotiations regarding output cuts. Brent crude futures for September delivery gained 99 cents, or 1.30%, to close at $77.16 per barrel, to log a new highest closing level since October 29, …